On November 20, 2020 we entered into a license and collaboration agreement with Novartis Pharma AG (“Novartis”). We will receive $50.0 million in proceeds consisting of an upfront payment of $25.0 million and $25.0 million through the placement of new fully-paid Mesoblast ordinary shares on closing of the license agreement. Closing of the license agreement is subject to the expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvement Act and certain other conditions.
Ann: First Quarter Financial Results on Form 6-K, page-5
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